Question
A firms income statement included the following data. The firms average tax rate was 20%. Cost of goods sold $ 8,400 Income taxes paid $
A firms income statement included the following data. The firms average tax rate was 20%.
| Cost of goods sold | $ | 8,400 |
| Income taxes paid | $ | 2,400 |
| Administrative expenses | $ | 3,400 |
| Interest expense | $ | 1,400 |
| Depreciation | $ | 1,400 |
a. What was the firms net income?
b. What must have been the firm's revenues?
c. What was EBIT?
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Financial Management Principles And Applications
Authors: Dr. S. Kr. Paul, Prof. Chandrani Paul
1st Edition
1647251664, 9781647251666
